ATP Oil & Gas Adds New Subordinated Debt Facility.HOUSTON -- ATP ATP: see adenosine triphosphate. ATP in full adenosine triphosphate Organic compound, substrate in many enzyme-catalyzed reactions (see catalysis) in the cells of animals, plants, and microorganisms. Oil & Gas Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATPG ATPG Automatic Test Pattern Generation ATPG Automatic Test Program Generator ) today announced that it has closed a $160 million unsecured subordinated term loan facility (the "Facility"). The new Facility matures in 2011 and can be prepaid by the company at any time, subject to the company's existing senior credit agreement. The proceeds of the Facility will be used to fund near-term development opportunities and for general corporate purposes. T. Paul Bulmahn, Chairman & President of ATP Oil & Gas Corporation, stated, "I am pleased with the strong support received from our investors in this successful debt offering. It is a testimonial to the financial strength of the company that we were able to accomplish this transaction in the face of the present turbulence in the financial markets. This new facility provides additional funding for expansion of ATP's strategy for enhanced shareholder value in 2007, 2008 and beyond." Credit Suisse acted as sole lead arranger Lead arranger The senior tier of arranger for the financing. About ATP Oil & Gas Corporation ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and the North Sea. The company trades publicly as ATPG on the NASDAQ Global Select Market. Forward-looking Statements Certain statements included in this news release are "forward-looking statements" under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. ATP cautions that assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those ATP expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to ATP's forward-looking statements are found in our SEC filings. |
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